Poland's PGE reports record-high renewable generation in 2022

Polish utility PGE Polska Grupa Energetyczna (WSE:PGE) said it increased by 5.3% on the year its generation from wind, solar photovoltaics (PV) and hydropower to a record high 1,931 GWh of electricity in 2022, backed by investments in capacity.

The company is growing its renewable energy capacity to ensure its greater energy security and independence, CEO Wojciech Dabrowski pointed out in a press release on Thursday. Green power also means lower electricity prices because it is not burdened with fees for carbon dioxide emissions, he added.

The renewable energy produced by PGE in 2022 can meet the annual demand of 860,000 households, or the electricity consumption of all the residents of the Lodz province, the company noted.

PGE produces green energy at 20 wind farms across Poland featuring 342 turbines with a total capacity of 772 MW. The group also has 24 PV farms whose overall capacity, installed or in the last stages of construction, will reach some 500 MW by the end of 2023.

Hydropower adds 96 MW of capacity coming from 29 facilities while the four pumped-storage plants with a total capacity of 1,543 MW not only produce but also store electricity, supporting the stability of the country's energy system.

By 2030, the group foresees having 3 GW of PV capacity, 1.7 GW of onshore wind farms and 2.5 GW of offshore wind farms in the Baltic Sea.

The group's long-term strategic goal is to achieve carbon neutrality by 2050, which it plans to accomplish by further investing in solar, wind and hydropower.

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